Country Farm and Business Management
Farm and business management is the practice of coordinating your agricultural operation so that you can maximize your profit potential and generate income. This process requires a broad range of skills, including management, economic analysis, and marketing.
Key practices in the management of a farm or business include
Marketing – the sale of your products or services to consumers; financing – loans to finance your operations; risk management – ensuring your operation is secure from disasters.
Financial – Creating pro-forma and real enterprise budgets that help forecast incomes and expenses. Calculating ratios.
The first step is to write down a plan of how you are going to accomplish your objectives. This will help you think through the various functions in your business, and identify weaknesses.
You will then need to determine whether your land is zoned production or if there are zoning restrictions that limit what you can produce. Check with your county or township to see if they have any restrictions.
You will also need to provide adequate public facilities for your business, such as parking lots, signage, and assistance to customers. These facilities will be needed to accommodate your customers and visitors and should be in compliance with food safety, environmental and zoning laws.
Ultimately, your business will need to be self-sustaining and a viable source of income. This means that you need to have enough income from your business to cover your living expenses, and save for the future.